Press release
Global In Line Process Viscometer market is anticipated to record a revenue of over USD 225 million Competitive Market Share & Forecast, 2016 – 2023
APAC, with India and China industrial sector growth, was the dominant regional industry and accounted for over 30.2% of the revenue share in 2015. Indian and Chinese governments have framed favorable FDI policies intended to enhance petroleum and petrochemical production in the country. The policies may facilitate new investments in the refining sector thereby driving stimulating ILPV market size.
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Europe, dominated by Germany, UK and France, may witness below average industry growth rates at 6.2% CAGR up to 2023. Environmental norms by REACH along with focus on parameter control in refining may promote the use of ILPV in Europe.
Vibration in line process viscometer technology was dominant and valued at over USD 29 million in 2015. Its ability to measure high viscous fluids with viscosity in excess of 1,000 Pa.s makes vibration technology preferable in numerous industries. In addition, vibration ILPV provides the highest quality, accuracy and reliability over huge time spans in various industrial processes.
Pharmaceutical applications are predicted to grow significantly, at 7% CAGR for the forecast timeframe. Growing pharmaceutical industry in China and India and increasing high viscosity fluid usage for ophthalmic solutions will drive ILPV demand growth.
MNCs are steadily setting up new bases in APAC while expanding existing manufacturing locations worldwide. These instruments exhibit high operational supremacy over conventional viscometers, which makes them a lucrative segment for investors and manufacturers.
By maintaining high quality of end-products with reliable and accurate measurements resulting in process stabilization, providing complete automation and cost reduction, the in line process viscometers market may become one of the most revenue intensive segments of all measurement and instrumentation markets globally.
Inability to measure multi directional flow coupled with intensive competition may challenge industry growth and affect in line process viscometer market price. This is particularly ineffective in the case of multi-channel and reversible flow systems which are present in adhesive mixing equipment and some refineries.
Torsional oscillatory viscometer (TOV) industry share will witness a CAGR of over 6.8% over the coming period of 2016 to 2023, driven by the growing adoption of this technology in the healthcare sector to measure human blood viscosity. In addition, this technology is widely used in the polymer, petrochemical, oil refining, and adhesives applications.
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Asia Pacific in line process viscometer market size dominated the regional landscape and is expected to exhibit an income of more than USD 66 million by 2023, owing to its growing requirement for the refineries & chemical industries, which are established on large scale across the APAC. India and China will be the major regional revenue contributor.
MEA ILPV industry is anticipated to grow at a CAGR of over 6.9% over the coming six years. The growth can be attributed to the large-scale presence of chemical industries. The demand for ILPV for pharmaceutical and food & beverages applications are growing significantly across North America, with an estimated annual growth rate of more than 6.1% over the coming years of 2016 to 2023.
Brookfield Engineering, Anton Paar GmbH, ProRheo, and Cambridge Viscosity, Inc are the major players having shared 12% of the global business space in 2015. Vectron International, Marimex America, Lamy Rheology, Fuji Ultrasonic, Bartec Group, Norcross Corporation, and VAF Instruments are other prominent industry participants in the in-line process viscometer market.
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Key insights from the report include:
Global in line process viscometer market size is forecast to register USD 225.7 million by 2023.
Acoustic wave ILPV technology is forecast to observe highest gains of more than` 7.3% CAGR from 2016 to 2023.
APAC food & beverages application growth prediction projects 7.5% CAGR and with USD 9 million in revenue for 2023.
North America, dominated by U.S. in line process viscometer market share, may observe torsional oscillation technology witnessing USD 10 million in revenue for 2023 with at above 6.4% CAGR.
MEA, led by petrochemical industry growth in Saudi Arabia, UAE and Qatar, will gain revenue at over 7% CAGR. Latin America rotational in line process viscometer market size will register close to USD 3 million with over 6.6% CAGR.
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